Naver Releases '2022 Integrated Report' Detailing ESG Management Practices and Achievements

Naver disclosed its integrated report on the 30th, covering the company's ESG (Environmental, Social, and Governance) management efforts and achievements throughout 2022. Along with this, the company also released the TCFD report detailing its climate change response strategy and the Green Commerce report outlining the status and outcomes of its green commerce initiatives.

The integrated report introduces Naver's newly enhanced ‘7 Major ESG Strategies’ for 2022 for the first time. The company’s non-financial performance was also prepared in accordance with the standards set by GRI and SASB.

The newly disclosed 7 Major ESG Strategies in this integrated report are ▲Building an ESG value-creation platform ▲Growth and satisfaction of employees ▲Supporting partner growth and co-prosperity with local communities ▲Maintaining transparency and advancement of governance ▲Achieving 2040 Carbon Negative ▲Minimizing information protection and cybersecurity risks ▲Responsible business operations. Naver provided detailed disclosures on last year’s achievements, long-term directions, and goals for each strategy.

Through the introduction of renewable energy last year, Naver reduced greenhouse gas emissions by a total of 17,414 tCO2e (carbon dioxide equivalent), surpassing the 2021 reduction of 16,697 tCO2e. Naver signed a third-party PPA contract to utilize part of the electricity needed for operating its second office building 1784 with renewable energy and became the first global internet company to simultaneously join RE100 and EV100. In 2022, Naver used 5.49 GWh of renewable energy, about five times more than the 1.08 GWh used in 2021.

Additionally, Naver continues steady activities in user information protection and technology ethics such as AI through initiatives like the PER system, the first of its kind in Korea, and the second AI report titled 'NAVER-SAPI AI Report' published jointly with Seoul National University’s AI Policy Initiative. Moreover, Naver practiced ESG management in various fields last year, including achieving the highest ‘Excellent’ grade in the Win-Win Growth Index evaluation for six consecutive years and introducing a new work system called ‘Connected Work’ to help employees focus on their tasks.

The scale of the win-win campaign ‘Project Kkot,’ which discovers and supports SMEs (small and medium-sized enterprises) and creators, continues to grow. Last year, institutional and financial support for SME business operators through education support, zero commission on Start, growth points, and fast settlement reached 39.86 billion KRW. Considering additional support activities such as ▲digital education support for the digitally marginalized through the Connect Foundation ▲various donations and funding via Happy Bean for disasters and calamities ▲support for creators in culture and arts through the Naver Cultural Foundation, Naver generated a total social value of 98.83 billion KRW last year.

The TCFD report released alongside the integrated report supplements information on Naver’s roadmap and specific implementation strategies for ‘2040 Carbon Negative.’

Meanwhile, Naver consecutively earned the highest ‘AAA’ rating in the global ESG evaluation conducted by Morgan Stanley Capital International (MSCI) in 2022, following 2021. It also received an A grade in the ESG evaluation by the Korea ESG Standards Institute and an upgraded AA grade from the ESG rating agency Sustainvest, one level higher than last year’s A grade.

This content was produced with the assistance of AI translation services.